The company had posted a net profit after taxes, minority interest and share of profit/loss of associates of Rs 61.84 crore for the corresponding period of the previous fiscal, Indian Hotels said in a BSE filingET Online | January 18, 2016, 13:00 IST

NEW DELHI: Indian Hotel Company plunged over 8 per cent in morning trade on Monday, after the Tata grouphospitality firm reported a 89.95 per cent dip in its consolidated net profit to Rs 10.05 crore for the third quarter ended December 31, 2015 on account of a rise in expenses and exceptional items.

At 09:40 am; the Indian Hotels stock was trading 6.1% lower at Rs 106.45. It hit an intraday low of Rs 104 and a high of Rs 110.55 so far in trade. The company had posted a net profit after taxes, minority interest and share of profit/loss of associates of Rs 61.84 crore for the corresponding period of the previous fiscal, Indian Hotels said in a BSE filing.

Consolidated net sales of the company, however, rose to Rs 1,308.97 crore for the quarter under consideration compared with Rs 1,206.88 crore for the same period a year ago.